Fifth Third Bancorp Has $282,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Fifth Third Bancorp lifted its position in Mueller Industries, Inc. (NYSE:MLI) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,701 shares of the industrial products company’s stock after acquiring an additional 213 shares during the period. Fifth Third Bancorp’s holdings in Mueller Industries were worth $282,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System raised its holdings in Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock worth $2,480,000 after purchasing an additional 170 shares during the period. CIBC Asset Management Inc increased its position in shares of Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after buying an additional 174 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Mueller Industries by 5.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company’s stock worth $312,000 after buying an additional 187 shares during the period. Texas Yale Capital Corp. lifted its holdings in Mueller Industries by 6.0% during the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 200 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in Mueller Industries by 1.4% during the fourth quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company’s stock worth $1,197,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $72.70 on Thursday. Mueller Industries, Inc. has a 1 year low of $54.31 and a 1 year high of $96.81. The company has a market capitalization of $8.04 billion, a P/E ratio of 13.24 and a beta of 1.03. The business has a 50-day moving average of $75.32 and a two-hundred day moving average of $78.00.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 3,130 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director now owns 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock valued at $2,198,600 over the last three months. Company insiders own 2.70% of the company’s stock.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.